Japan Game Sector "June quarter mobile revenue estimates" Zhai

研报英文原文证据摘录

Japan Game Sector "June quarter mobile revenue estimates" Zhai

Global Research

2 July 2026ab

Japan Game Sector Equities

JapanJune quarter mobile revenue estimates

Entertainment

Yijia Zhai

In the quarter, most companies saw QoQ revenue declines, primarily due to the fading Analyst

impact of New Year seasonality and reactionary declines following major anniversary yijia.zhai@ubs.com

campaigns and events. +81-3-5208 6203

The exceptions were Konami and Square Enix: Konami benefited from a football world Yanyi Song

cup related boost, while Square Enix saw solid early performance from the newly Associate Analyst

launched title during the quarter. The most noteworthy among the declining names was yanyi.song@ubs.com

Nexon. Its major title, Dungeon & Fighter Mobile China, was not able to recover despite +81-3-5208 6199

an anniversary event and major updates.

Highlights for each company:

Bandai Namco: -22% QoQ/-13% YoY. Despite some titles such as SD Gundam G

Generation and Gakuen IDOLM@STER seeing increases in the quarter due to anniversary

campaigns, QoQ still recorded a decline, mainly driven by post event weakness across

most titles, particularly Dragon Ball Z Dokkan Battle. The YoY decline was largely due to

a reactionary drop from SD Gundam G Generation's launch in 2025 April. The company

also newly announced another title in the One Piece franchise, One Piece: Grand

Gourmet, which is scheduled for release on 23 Oct 2026.

CyberAgent: -26% QoQ/+10% YoY. QoQ decline was mainly driven by post

anniversary weakness in Uma Musume Pretty Derby, while the drop in the overseas

version is more notable. Most other titles also declined QoQ. YoY growth was supported

by overseas Uma Musume, as the title had only just launched last year in June and its

contribution was still limited.